I have a home loan in India. When I asked the bank about the part-prepayment charges, they came back with 2% penalty and 12.36% service tax. If I prepay Rs.1,00,000/= does the charges come to 2% of 1,00,000 = 2,000 + 12.26% of a lakh = 12360 ? I find this to be highly unreasonable. Is this the way the calculation works or is am I doing something wrong in the calculation ?
Renting & Real Estate - 1 Answers
Random Answers, Critics, Comments, Opinions :
1 :
The way the calculation works is as follows: If I prepay Rs.1,00,000/= the charges come to 2% of 1,00,000 = 2,000 + 12.36% of Rs.2000 = Rs. 2,247.20 So in order to prepay 1.00.000, you'll end up paying 1,02,247.20/=
